THE WORLD HAS A NEW LARGEST COMPANY.

$AAPLB Apple. $5.03 TRILLION market cap.

Nvidia fell to $4.93 trillion on Friday.

The Big Tech company spending the LEAST on Al is now worth more than every one of them.

Here is what the spending did to their cash.

FREE CASH FLOW:

Amazon: -$42.4 billion (last 12 months) Alphabet: -$9.07 billion (last quarter) Meta: -$2.12 billion (last quarter) Microsoft: +$18.63 billion (last quarter, down 27%)

Apple: +$142 billion (projected, fiscal 2026)

CAPEX:

Alphabet, Amazon, Meta, Microsoft: more than

$740 billion this year

Apple: about $12.7 billion in fiscal 2025

STOCK IN 2026:

Apple: +27%

Nvidia: +9.7%

Apple FELL 1.2% on the day it took the top spot. Nvidia fell 4.2%.

It took the crown on a down day.

The gap at Friday's close: about $
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